S. 271(1)(c) of Income Tax not attractable when Assessee fully disclosed particulars in Returns filed: Calcutta HC dismisses Petition [Read Order]
The Court held that penalty under section 271(1)(c) of the act not attract since the assessee fully disclosed the particulars in the return of income
![S. 271(1)(c) of Income Tax not attractable when Assessee fully disclosed particulars in Returns filed: Calcutta HC dismisses Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Calcutta-High-Court-Income-Tax-Income-Tax-Act-Calcutta-HC-Income-Tax-petition-taxscan.jpg "S. 271(1)(c) of Income Tax not attractable when Assessee fully disclosed particulars in Returns filed: Calcutta HC dismisses Petition [Read Order]")
The Calcutta High Court held that Section 271(1)(c) of Income Tax Act, 1961 is not attractable when assessee fully disclosed particulars in returns filed and dismissed the petition. The revenue, filed appeal under section 260(A) of the Income Tax Act, 1961, challenging the order dated 30.11.2023, passed by the Income Tax Appellate Tribunal (ITAT) for the assessment year 2015-16 which...
The Calcutta High Court held that Section 271(1)(c) of Income Tax Act, 1961 is not attractable when assessee fully disclosed particulars in returns filed and dismissed the petition.
The revenue, filed appeal under section 260(A) of the Income Tax Act, 1961, challenging the order dated 30.11.2023, passed by the Income Tax Appellate Tribunal (ITAT) for the assessment year 2015-16 which was in favour of Chetan Kumar Tekriwal (HUF), the assessee.
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It was found that the Assessing Officer nowhere demonstrated that the claim of the assessee was either found to be false either during the assessment proceeding or during the penalty proceeding.The Tribunal took note of the decision of the Supreme Court in the case of CIT –vs- Reliance Petroproducts Private Limited.
The decision arrived at by the Tribunal is just and proper. Since the assessee fully disclosed the particulars in the return of income, Section 271(1)(c) of the Act would not stand attracted.
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The division bench of Chief Justice T.S Sivagnanam and Justice Hiranmay Bhattacharyya dismissed the appeal and the substantial question of law is answered against the revenue.
The connected application accordingly stands closed.
To Read the full text of the Order CLICK HERE
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